Founded in 1962 by Charles L. Klotzer

Bank CEO or bank robber? Congressman can’t tell the difference

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Heads of eight major U.S. banks appeared Wednesday, Feb. 11, to explain how they’ve managed to take billions of taxpayer bailout money without doing anything meaningful to address the economic crisis they helped create. capuanomike3The hearing before the House Financial Services Committee gave members of Congress, who have been complicit in this mess by approving the Bush-Paulson blank check, an opportunity to vent.

Perhaps the most pointed criticism came from Massachusetts Democrat Michael Capuano who compared the heads of Bank of America and Citigroup and other financial institutions to bank robbers.

Here’s Capuano:

“Basically you come to us today on your bicycles, after buying Girl Scout cookies, and helping out Mother Teresa, telling us, ‘We’re sorry, we didn’t mean it, we won’t do it again. Trust us.’ Well, I have some people in my constituency that actually robbed some of your banks. And they say the same thing. They’re sorry. They didn’t mean it. They won’t do it again. Just let ’em out. Do you understand that this is a little difficult for most of my constituents to take? That you learned your lesson. And it’s all the same people doing this. . . . You created the mess we’re in . . . and now you’re saying, ‘Sorry, trust us.’ ”


Written by writer. Edited by editor.

February 11, 2009 at 2:37 pm

Posted in Uncategorized

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